Friday, March 26, 2010

Forget the Jobs, Lets Just Get the Money.........

Lets not mention tax cheats like Rangel and Geithner....small potatoes?... move on.

Bermuda-based corporations are among those targeted by legislation approved by the US House of Representatives this week.

The legislation was part of a jobs bill that went before the House on Wednesday, which will attempt to raise $7.7 billion from corporations who funnel their US profits through offshore affiliates to cut their US tax bill.

The provision targets countries that do not have a tax treaty with the US, such as Bermuda and the Cayman Islands.

And how will this work when ALL companies become foreign countries? No one likes a tax cheat, but maybe the better idea is to allow companies to create jobs in this country and allow them to keep some of their hard earned cash instead of hiding it all in some other country!

Read on to make your head spin  


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